Commitment Fee
Definition of "Commitment fee"
Charge by the lender to keep credit available to the potential borrower. Once the loan is made, interest is charged on the amount borrowed. Real estate businesses often need money available for land development and building construction. Typically, the bank will charge a commitment fee on those funds.
Popular Real Estate Terms
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Person's sole ownership of real property. ...
Upper layer of ground. ...
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Decision rendered by a court of law. ...
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